Japan's annual coal import contract which is often used as
the yearly benchmark for Asia has been settled high between $115.20 – 115.25/MT for
the fiscal year beginning April 1.
The settlement price is often just a few dollars above
Australian coal spot prices, but this year the settlement price is more than $8/MT,
or more than 7%, above the Australian Newcastle coal index price.
Japan's higher settlement of prices has given a boost to the Australia's Newcastle & South African Coal prices. An April DES ARA cargo was bid at $95.00
and offered at $100.00, up by nearly $2/MT. And an April South African cargo was also
being offered at $104.50 i.e. up by $1/MT.
Source: Reuters
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